More than 1,500 Greek-owned companies have transferred their headquarters to Cyprus over the past 20 months, with the ongoing economic crisis in Greece since 2009 apparently causing the exodus.

Cyprus also appears as an attractive destination for Greek nationals seeking employment.

According to a report by the Greek embassy in Nicosia's economic and trade affairs office, the sectors with the greatest concentration of Greece-based investments is in the financial sector, trade and construction.

According to data of the Central Bank of Cyprus, Greek investments in Cyprus totaled 710.2 million euros in 2009 -- mainly through the creation of Cypriot subsidiaries.